Buhari Reverses Stance on Seplat, Exxon Mobil Deal   The President, Major General Muhammadu Buhari (retd.), has reversed his approval of the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited. The move puts the Presidency on the side of...

Shell Profits Rise Over Soaring Oil Prices Royal Dutch Shell on Thursday reported a 42 percent rise in first-quarter profit, its highest in over three years, boosted by higher oil prices and production. Expectations are high for Shell to continue to generate strong profits and cash...

The delay in the construction of the multibillion dollar upstream gas supply projects to feed Chevron’s Agura Power Plant, ExxonMobil’s Qua Iboe Power Plant and Total’s Obite Power Plant has delayed the projects, which were conceived by the administration of former President Olusegun Obasanjo...

Oil prices tumbled on Tuesday as United States rate hike expectations lifted the dollar oil but crude pared losses on worries about more supply outages from Nigeria’s main crude oil terminal. According to Reuters reports, growing expectations that the US Federal Reserve may raise rates...